First time since 1994, Securities and Investment Industry Donates More To Democrats

Pensions & Investments

By Christine Williamson

May 15, 2006

For the first time in a dozen years, the securities and investment industry in the U.S. contributed more to Democrats than to Republicans, according to data from the Center for Responsive Politics, Washington.

For the year as of March 13, companies, individuals and political action committees from investment management and securities firms had contributed $13.6 million to Democratic candidates, or 52% of the total pot, compared with $12.6 million to Republicans. The contributions do not include Levin fund donations — contributions of up to $10,000 from sources allowed to give money to state and local parties, including corporations in some states, that can be used for certain types of voter registration, voter identification and get-out-the-vote activity. In all of 2004, GOP candidates attracted $5 million more than their Democratic opponents.

CRP, which collects contribution data every two years, found that Republicans received the most investment industry contributions in every period back to 1994, when Democratic candidates won by about $700,000. In 1992 and 1990, gifts to Democrats beat out those to their rivals by about $2 million in each year